Global Interest in ADNOC’s Downstream Investment Forum Confirmed as Leading CEOs Descend on Abu Dhabi
Abu Dhabi, UAE – May 08, 2018: The Abu Dhabi National Oil Company (ADNOC) today confirmed the attendance of more than 40 global CEOs and over 700 attendees at the ADNOC Downstream Investment Forum, underlining both the local, and far-reaching global, interest in the event.
The Forum will commence on 13 May, in Abu Dhabi. During the event, ADNOC will outline its new detailed downstream strategy and significant expansion and investment plans for the Ruwais refining and petrochemical complex in the UAE. The Forum will act as a platform to launch a number of new domestic and international ADNOC partnership and investment initiatives across the wider downstream value chain. Further, it will highlight to global business leaders from a broad range of industries, the key position that Abu Dhabi and the UAE have, with their history of partnership, geocentric location and stable environment, as a destination of choice for investment and strategic partnerships.
Commenting on the upcoming Downstream Investment Forum, H.E. Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “Our Downstream Investment Forum comes at a time of great potential for our industry as global demand for petrochemicals expands, driven in particular by the growth economies of Asia. The Forum will provide the ideal setting for industry leaders to learn about the many investment and partnership opportunities that will be made available across our value chain as we expand downstream. Importantly, these opportunities will generate attractive returns for ADNOC and our partners and have a significant spillover impact on the development of the UAE’s economic growth. We look forward to welcoming our guests to Abu Dhabi at what will be a unique industry gathering that will demonstrate the advantages and attractiveness of the UAE as a global partnership and investment destination, both for downstream players and a broad range of businesses, industries and services providers.”
Speakers and attendees at the Forum will include Ministers, and prominent energy industry leaders such as: H.E. Dharmedra Pradan, Minister for Petroleum & Natural Gas, India; H.E. Eng. Suhail Mohamed Faraj Al Mazrouei, UAE Minister of Energy and Industry; H.E Mr. Kosaburo Nishime Japan's State Minister of Economy, Trade and Industry; H.E. Sung Cheon Kang, Korean Deputy Minister for Trade; Amin Nasser, CEO of Saudi Aramco; Patrick Pouyanné, Chairman and CEO of Total; Bob Dudley, CEO of BP; Joe Kaeser, President and CEO of Siemens; John Flint, Group CEO of HSBC; Sanjiv Singh, Chairman, IndianOil; Wang Yilin, Chairman of China National Petroleum Corporation; Vicki Hollub, President and CEO of Occidental Petroleum Corporation; Claudio Descalzi, CEO of ENI; Jeremy Weir, CEO of Trafigura; Mark Garret, CEO of Borealis; Eric Cantor, Vice Chairman & Managing Director, Moelis & Company; Musabbeh Al Kaabi, CEO of Mubadala Petroleum and Petrochemicals; and Dr. Daniel Yergin, Vice Chairman of IHS Markit.
The Forum, which has proven a major draw for global oil, gas, petrochemical, and other industry leaders, will mark the launch of ADNOC’s new downstream strategy, which aims to take advantage of fast-evolving energy market dynamics and the rising global demand for refined and petrochemical products. ADNOC’s new downstream strategy will enable it to become a leading, global downstream player, positioning both Abu Dhabi and the UAE as a major hub in the global refining and petrochemicals value chain.
ADNOC’s expansion and new investment in the downstream will accelerate the delivery of its 2030 strategy and create a more flexible, resilient and diverse energy business, optimizing its performance and stretching the dollar from every barrel of oil it produces. Further, the downstream strategy will also act as another catalyst for Abu Dhabi’s economic growth and diversification plans, attracting new foreign and domestic investment, creating numerous employment and career opportunities, and significantly boosting ADNOC’s in-country value creation initiatives. The strategy will draw upon ADNOC, Abu Dhabi and the UAE’s strengths such as its access to world class resources, strategic geographic location, stable political and economic environment, and its partnership model developed over 45 years, highlighting the company and nation’s strategic role in the global economy.
Alongside panel discussions and the unveiling and presentation of ADNOC’s new downstream strategy and Ruwais expansion plans on day one, the Forum will also include a tour of ADNOC’s Ruwais Industrial Complex and Ruwais City, on day two. The UAE’s world scale and fully integrated refining and petrochemicals complex (already the world’s fourth largest refinery globally) is set to become the engine of ADNOC’s downstream strategy, and will become a global epicentre for the refining and wider petrochemicals industry, as well as supporting the accelerated development and growth of Ruwais city.
For the full ADNOC Downstream Investment Forum agenda, please visit the event website.
